Robert W. Smiley, Jr. is the Founder,
Chairman of the Board and a Managing Director of The Benefit
Capital Companies, a national group of merchant banking
and financial advisory firms headquartered in southeastern
Nevada, with offices in Irvine, Los Angeles, New York, Dallas
and Honolulu. His principal functions include the implementation
of management and employee buyouts using employee stock
ownership plans (ESOPs) and other tax advantaged financing
Mr. Smiley has been involved as a principal,
consultant or advisor to well over $5 billion in successful
transactions in diverse industries over the past 30 years.
He is a member of the management team of Benefit Capital
Partners, which provides equity financing for management,
employee and other buyouts, and brings substantial experience
to these transactions.
Mr. Smiley is a Founder and past President
of The ESOP Association, a nonprofit trade association for
ESOP companies with over 2,200 current members and a full-time
Washington, DC, staff. The Association promotes cooperation
among government, industry and the professions involved
with ESOPs. Mr. Smiley continues as a lifetime honorary
member of the Board of Governors, and is a member of the
Advisory Committee on Legislation and Regulatory Issues.
He is a past director of the National Center for Employee
Ownership and a founding editor of and contributing author
to its flagship publication, The Journal of Employee
Ownership Law and Finance. He is also a former Trustee
of The Employee Ownership Foundation. Mr. Smiley was invited
to testify before the Committee on Finance of the United
States Senate in regard to pension legislation subsequently
adopted by the U.S. Congress. He has also been invited to
testify before state legislatures on pension matters. In
recognition of his contribution to pension policy in the
United States, he received the President's Special Achievement
Award from the President's Commission on Pension Policy.
Mr. Smiley is a frequent speaker and author on topics of
corporate finance involving management and employee buyouts
using tax advantaged financing techniques. He is the Managing Editor and a co-author of Employee Stock Ownership Plans: ESOP Planning, Financing, Implementation, Law and Taxation first published in 1989 by Prentice Hall, Maxwell Macmillan, with annual yearbooks by Warren Gorham Lamont; the 2007 edition is published by the Beyster Institute, Rady School of Management, University of California, San Diego with annual updates through 2013.
Mr. Smiley has served on the faculty of
the University of California, Los Angeles (UCLA) Extension.
He served as a Trustee of the Reason Foundation, a free-market
think tank, for nine years. Mr. Smiley received his AB in
Economics from Stanford University and an LLB from LaSalle
University, Chicago. Prior to entering Stanford he served
a tour of duty in the United States Navy. He is a current
member of the State Bar of California and the American Bar
Association. He is listed in Who's Who in America. He has
served as a director for a number of companies, both public